Tag: product mix

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Questions Related to product mix

Multiple choice commercial applications marketing mix - 4 p's meaning of product product mix ideologies/concepts/views of marketing management

Match the following.

$1$. Contactual a) Find out buyers and sellers
$2$. Merchandising b) Producing goods that will satisfy market requirements
$3$. Pricing c) Process of attaching value to the product in monetary term
$4$. Propaganda d) Sales promotion activities

  1. $1$-a, $2$-c, $3$-d, $4$-b

  2. $1$-a, $2$-b, $3$-c, $4$-d

  3. $1$-b, $2$-a, $3$-c, $4$-d

  4. $1$-a, $2$-b, $3$-d, $4$-c
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

1-a (Contactual: finding buyers/sellers), 2-b (Merchandising: producing goods to satisfy market), 3-c (Pricing: attaching monetary value), 4-d (Propaganda: sales promotion).

Multiple choice commercial applications marketing mix - 4 p's meaning of product product mix ideologies/concepts/views of marketing management

A product line strategy wherein a company adds a higher priced product to a line in order to attract a broader market which helps the sale of its existing lower priced products is called ________.

  1. trading up

  2. trading down

  3. life cycle extension

  4. product line extension
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Trading up is a type of selling in which the customer is persuaded to buy a more expensive item, or a larger quantity of the same item than originally intended in exchange for an attractive discount or some other incentive. 

Multiple choice commercial applications marketing mix - 4 p's meaning of product product mix ideologies/concepts/views of marketing management

Availability and ______ of the product was considered to be the key to the success of a firm.

  1. Accountability

  2. Affordability

  3. Price

  4. Quality
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The industrial revolution was the transition to new manufacturing process in the period from 1760 to sometime between 1820 and 1840. This transition includes going from hand production methods to  machine, new chemical manufacturing and iron production process. This gave rise to the development of machine tools and factory system. Due to this vast production, the  products were made affordable for the consumers by decreasing the production cost.

Multiple choice commercial applications marketing mix - 4 p's meaning of product product mix ideologies/concepts/views of marketing management

Packaging affects our buying decision.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Product packaging is the process of designing, evaluating and designing packages that protect the products from spoilage, helps in easy transportation and also provide information about the product to consumers. Product promotion is the new consideration as packaging with the help of attractive designs and colors help in drawing people's attention towards the product. This leads to increase sales.

Multiple choice commercial applications marketing mix - 4 p's meaning of product product mix ideologies/concepts/views of marketing management

Products can be classified in two categories.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A product is an item offered for sale. It can be an item or a service, virtual or cyber form. Every product is made at a cost and each is sold at a price. The product should be relevant, the users must have an immediate use for it. It can be classified into two categories i.e industrial products which are used to produce further products for consumer use and consumer products which is also known as final good that can be used by consumers. 

Multiple choice commercial applications marketing mix - 4 p's meaning of product product mix ideologies/concepts/views of marketing management

______ can be defined as anything that can be offered to a market to satisfy a want or a need.

  1. Product

  2. Market

  3. Package

  4. Price
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A product is an item offered for sale. It can be an item or a service, virtual or cyber form. Every product is made at a cost and each is sold at a price. The product should be relevant, the users must have an immediate use for it.